BUYING TIPS

Why You Should Invest in a Condo

If you’re looking for a good investment opportunity, you may want to consider investing in a condo.

With properties currently being built and still lined up, the Philippines is definitely enjoying a major surge in the real estate market. After all, condo living is an attractive offer. Living in a condo lets residents enjoy five-star living in key locations that allow them easy access to their favorite establishments.

A condo also makes for a sound investment. Here are just some of the reasons why you should consider investing:

1. If your condo is situated in a prime location, it can bring a premium resell price or monthly rental.
2. Condos can help you rent out your unit through their rental services, ensuring that the unit is occupied and the cash keeps flowing.
3. The purchase price is lower compared to a single family home. Renting it out tends to be cheaper than a typical home because the maintenance costs are shared, even if the property value is high.
4. Because condos have restrictions when it comes to maintaining the property, its value is maintained as well, which is great for when you’re renting it out.
5. Condos offer great amenities like pools, gyms, gardens, and so on. These are great perks for renting or reselling.

Reselling or renting out a condo is a great way to benefit from the property boom. Because of shortages in housing, it can be said that there is a demand for property rentals. Plus, your market is not limited to locals. Recently, it has also been observed that tourists consider condos as alternatives to hotels because they are cheaper.

Given that there is a market for rentals and reselling,  investing your money in a condo is definitely worth considering.

Tips for Buying a Condo in the Philippines

Looking to purchase a home? A sky high lifestyle in a condominium could be for you.

For those looking to find a new home, purchasing a condo is one of the options you can consider. Condos are a popular choice in real estate in the Philippines. Having a condo not only provides you with a good home, you also enjoy the luxuries that come with it.  With condos strategically located in or near business districts, it’s definitely advantageous to residents.

However, it’s understandable that buying a condo can be intimidating, especially if you’re buying one for the first time. While condos are generally less expensive than house and lots, it’s still a major purchase decision.

Here are some tips for you to consider, if you’re looking to purchase a condo:

1. Analyze your financial capacity.

Before you start your search, you have to know what you can afford. Evaluate your funds and where these will come from. Visit your trusted bank, and they can give you the details you’ll need before you purchase a condo. They will also work with you on setting a reasonable budget for your income.

 2. Check the developer’s track record.

If you already have properties in mind, do research first. Are the projects finished on time? When is the turnover date for your prospective condo?

 3. Consider your location.

Aside from the general location, pay attention to the neighbourhood. Consider things like your daily commute, the proximity to grocery stores, malls, and other factors that could be appealing or unappealing.

 4. Attend open houses for your preferred condo.

Typically there are scheduled open houses for different properties. If not, you can get in touch with your seller to set up a schedule for viewing.  It’s best to really take your time in going through the condo and take note of things you like and don’t like. Don’t forget to take note of these on a notebook or on your smartphone. This way, you’ll be able to compare notes when you’re trying to narrow down your choices.

 5. Ask questions.

If something is not clear to you, don’t hesitate to ask your seller. Ask about details like fees associated with the property. Are there association fees you need to pay? What comes with these fees? Know what benefits come with what you’re paying for.

It can be pretty scary for a first-time buyer, but keep these tips in mind and you’ll be able to approach the condo-buying process with confidence.

Investing in a Preselling Property

...An introductory price of up to 30% less & flexible payment termsare just a few of the opportunities condo buyers can get through pre-selling properties. 

What is Preselling?

Preselling or off-the-plan properties, mainly condominiums and townhouses, are units sold before the completion of the project, while they are under construction, or during their planning stages.

This practice allows real estate developers to finance the construction of their project and enables potential investors to purchase the property at a much cheaper value.

This is a wise form of investment, whether you’re looking to realize an immediate return or simply to settle. Yet, there are considerations to be made, as investing in a preselling property has its pros and cons.

The Pros

1. Low introductory price and flexible payment schemes

As the demand for residential units continues to escalate, lending institutions offer more and more financing options and lower borrowing costs. And with the absence of a concrete entity, real estate developers offer preselling properties at a much lower introductory price, which is about 30 percent lesser than a unit that is no longer just a perspective. To further attract potential buyers, developers also offer discounts and promotions as well as flexible payment schemes that can go for as low as 10%, which can be payable in a short three years.

2. Having the luxury of choosing the best located unit and enjoying new features and amenities

Another benefit enjoyed by most buyers of preselling properties is being able to select their preferred unit and floor plan. Customizing and inspecting their accommodation at the end of every construction phase also applies, depending on the pre-sale contract. On top of that is the perk of living in a community that offers state-of-the-art amenities.

3. Quick ROI by the turnover date

What will be the projected demand for your property and its location in ten years? And, if you invest in a preselling property now, what will its value be by the time of its completion?

Whether you are investing for a quick return or simply buying a unit to call your own, these are questions that need to be considered before deciding to plunge into a deal.

While preselling properties can make promising investments, given that their value increases as the years pass, their location is also vital. Provincial properties, for instance, are more affordable than those in developed areas, mainly because most are not strategically located near commercial establishments, central business districts, and educational institutions.

As a buyer, it is wise to consider the neighborhood, as it is a factor that will define your ROI. Remember, your down payment today will be of higher value in five years or more. So the trick is to find a preselling property in a prime location.

Condo Buying Tips for Students

As the new school year starts, parents and students are keeping an eye out for the perfect condo where they can stay throughout the year.

Condos near schools are a big convenience to students. For one, the strategic locations allow the students to be near their place of education, saving them the stress of long commutes. Also, with their “homes” near the school, students can devote more time to their school work while still making time for other interests and hobbies. For parents, it’s important that their kids have a secure, conducive, and convenient place for their children for the duration of the school year.

When choosing a condo, here are some tips students should keep in mind:

1.    Check how accessible the condo is to your school.

Traffic is a major downer in every student’s life, so make sure your condo is accessible via different modes of public transportation. When you’re inspecting the property, take note of the public transportation terminals nearby and familiarize yourself with the routes you’ll be taking. SMDC Berkeley Residences along Katipunan Avenue in Quezon City is walking distance from Ateneo de Manila University and Miriam College, and is accessible via jeepney and tricycle.

 2.    Review the condo’s security features.

Safety, of course, is definitely a priority. Most condos have security guards stationed at the entrance of the building, as well as receptionists who monitor people who come and go. SMDC condos like Blue Residences in Quezon City are equipped with automatic fire detection and an alarm system as well. You can also ask condo management if additional locks or security features can be installed in your unit.

 3.    Take note of the condo’s amenities.

The amenities of the condo should be conducive for your studies, so take note of what you’ll need throughout the year. For example,Green Residences in Taft Avenue, Manila has student-oriented facilities such as a study hall, several function rooms, a fitness center, and a swimming pool.

 4.    Familarize yourself with key locations.

Go around and check out key locations like hospitals, places of worship, grocery stores, affordable restaurants, coffee shops, laundromats, and similar spots. Sun Residences on España Boulevard in Quezon City is not only accessible to the schools in the university belt area, but also has its own Hypermart, as well as various dining spots in the building.

Highly Recommended Project Near University:

GREEN Residences :Beside Lasalle

SUN Residences :Near UST

Blue residences: Near Ateneo

Princeton Residences: Near C.E.U

Why Buy a Condo in New Manila?

When thinking of luxury condos in Manila, we usually think of the Makati business district, or the Ortigas area. But if you’re looking for an area that’s convenient, why not consider purchasing a condo in New Manila?

New Manila is an area with its own unique charm and history. Many of the opulent houses standing in the area belonged to affluent families who settled in Manila after the Second World War, giving the residential district an allure all its own. At present, New Manila is an area where there’s a harmony between urban and suburban flavours within the metropolis.

So why should you consider owning a condo in New Manila? Here are just some of the reasons why it’s a good investment:

1.    Accessibility

Whether you’re a young professional living by yourself or living with your family, a condo in New Manila like Princeton Residences is a huge convenience. For one, it’s strategically located in the middle of major areas—San Juan, Tomas Morato, Timog Avenue, old Manila, and Aurora Boulevard. Public transportation is no problem, with major streets and LRT 2 Gilmore station nearby.

 2.    Strategically-located

Schools such as St. Paul University of Quezon City, Trinity University of Asia, and St. Joseph’s College are just some of the schools in the New Manila area, making it convenient for students. Important structures like churches and hospitals are also within your reach, St. Luke’s Medical Center and Christ the King, in this case.

 3.    Lifestyle center

Given that it’s near restaurants and other leisure establishments, you’ll never lack for anything new to do. Check out the ancestral homes-turned-restaurants like Lemuria Gourmet, or venture to the Timog, Tomas Morato, or Greenhills for good eats and entertainment.

Move in at Princeton Residences today

Luxury living is within your reach at Princeton Residences in New Manila. Soak in the harmony of urban and suburban flavor in the metro, living in an area that’s in the center of your educational, professional, and recreational needs.

Experience the Star Life at Princeton Residences today! Princeton Residences is part of the exciting lineup of Ready For Occupancy units in prime locations. Enjoy added value and convenience from SM partners.